The USD/CAD pair fell during the session on Monday, making a fresh new low. Because of that, we feel that this market will continue to look for significant support, which we see at the 1.06 level. That area should bring buyers back into the marketplace, but in the meantime we feel that shorting this market is possible if you are more inclined to be a short-term trader. We believe that the longer-term move could very well be higher, but at the 1.06 handle is where we would prefer to see that supportive candle.
